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Pin to quick picksEthernity Net Share News (ENET)

Share Price Information for Ethernity Net (ENET)

London Stock Exchange
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Share Price: 0.80
Bid: 0.75
Ask: 0.85
Change: 0.00 (0.00%)
Spread: 0.10 (13.333%)
Open: 0.80
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Low: 0.80
Prev. Close: 0.80
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AIM WINNERS & LOSERS: Solar panel maker Verditek says needs fundraise

Wed, 29th Nov 2023 10:45

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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AIM - WINNERS

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Ethernity Networks Ltd, more than doubled to 2.27 pence on Wednesday morning from 0.78p on Tuesday, 12-month range 0.20p-10.42p. The supplier of data processing semiconductor technology says it has put pen to paper on a USD800,000 deal with a "long-term networking data communications customer". The pact means it has expanded an existing licence with the customer, relating to Ethernity ENET flow processor technology. "The customer has been licencing this technology from Ethernity for over ten years and the licence expansion permits the deployment of the technology on a broader range of the customer's ethernet access system products," Ethernity adds.

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Empire Metals Ltd, up 16% at 9.96p, 12-month range 1.44p-10.20p. The stock roars to this 12-month high after the exploration and development reports its "highest grade drilling results" to date at the Pitfield asset in Western Australia. The results confirmed "high-grade" titanium dioxide mineralisation zones. "These exceptional results provide further evidence that we have a high-grade titanium enriched mineralised system of global strategic significance at Pitfield," Managing Director Shaun Bunn says.

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AIM - LOSERS

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Verditek PLC, down 37% at 0.20p, 12-month range 0.15p-1.90p. The solar panel producer warns that it has "limited cash resources" and needs to conduct some sort of fundraising or recapitalisation to bolster its coffers "within the next four to 12 weeks", depending on when it receives a VAT refund from the Italian tax authorities. "The company is actively exploring a number of options. In particular, the company is in discussion with a potential strategic partner, active in the solar energy space, concerning a possible collaboration including taking a significant stake in the company and a possible joint venture," Verditek says.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: Ethernity shares crash as subscription settlement continues

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Receives settlement notice for USD90,000 from 5G Innovation Leaders Fund LLC pursuant to share subscription agreement announced in late February. Says 5G Innovation is entitled to issue settlement notices under the agreement despite notifying Ethernity of an event of default and despite Ethernity's ongoing temporary suspension of proceedings. A court in the Israeli city of Lod granted the suspension order on Monday last week, and a settlement manager was appointed to review Ethernity's short-term budget.

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16 Oct 2023 16:13

Ethernity Networks shares fall as suspension lifted

(Alliance News) - Ethernity Networks Ltd shares fell on Monday, after the suspension on its shares was lifted after just two business days.

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IN BRIEF: Ethernity suspended from AIM after "challenging" months

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Announces application to court in Tel Aviv for a temporary suspension of proceedings order and to convene a meeting of creditors. Also announces temporary suspension of shares from trading on AIM, effective Thursday. Says it has faced significant challenges in recent months, including "a significant and unexpected increase in cost and lead-times" of essential components, following a global shortage caused by Covid-19. Several customers also have experienced pandemic-related financial difficulties, making it harder for Ethernity to collect outstanding debts. Ethernity also believes two long-term customers have been violating usage of a licence "for several years" and says it "will be taking steps to claim against this infringement". Says its current cash balance is approximately USD107,000.

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IN BRIEF: Ethernity Networks extends share issue date in subscription

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Says current outstanding balance under the share subscription agreement with investor 5G Innovation Leaders Fund is USD1.4 million. Extends the date by which 5G Innovation can request Ethernity shares to be issued until March 3 next year. All other terms remain unchanged and as announced in late February.

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31 Aug 2023 14:14

IN BRIEF: Ethernity to move New York shares to Pink Open Market

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Shares will cease trading on the OTCQB Venture Market in New York from Friday, instead trading on the Pink Open Market operated by OTC Markets, also in New York. Says primary listing will remain on AIM in London. Ethernity shares were admitted to trading on OTCQB in September last year, with the company saying it decided to transfer to the Pink Open Market "due to the absence of perceived benefits for Ethernity's shareholders from the OTCQB listing, and the excessive resources it entailed". Says US-based shareholders will, via trading on the Pink Open Market, continue to have access to a platform for trading Ethernity shares.

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IN BRIEF: Ethernity Networks hails progress on delayed contracts

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Provides an update on two contracts previously announced in October 2021, for a wireless backhaul solution, and November 2022, for a broadband wireless access solution. Contracts have a combined value of USD740,000. Company has experienced delays with these contracts, with the customers unable to deliver the required hardware to the company. Says it has now been notified by the two customers that they intend to deliver their prototype hardware during the final quarter of 2023. Once delivery of the hardware has taken place, the company will be able to complete the contracts and invoice for the remaining balance of USD550,000. Contracts are now expected to be fulfilled during the final quarter of 2023 and the first quarter of 2024.

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